Transcript FP Solutions Basic - Investment Planning Counsel

FP Solutions
Exceptional Advice
Just Got Easier
Who is CCH Canadian Ltd?
• CCH is a professional publishing and
software company focusing on:
– Tax
– Financial Planning
– Legal, HR and other business areas
• CCH is part of a large multi-national
corporation named Wolters Kluwer
FP Solutions
Financial planning software that
grows with your practice and adapts
to your clients’ changing needs.
Business
Advanced – Cash flow
Plus – Insurance needs analysis
Basic – Retirement planning & Sales concepts
FP Solutions Top 10 Features
1. T1 Tax Calculations
2. Fact Finder
3. Annual Review Tool
4. FP Focus
5. Planning Assistant
6. Common Planning
Strategies
7. Value & Return on
Advice
8. Planning Concepts
9. Customization
10. Software Support
#1 T1 Tax Calculations
General Income
Tax and Benefit
Guide
• All income taxes
are calculated
based on CRA
guidelines.
• Does not require
the advisor to
make any
assumptions
relating to the
rate of tax.
• Highest standard.
#2 Fact Finder
•
•
•
•
•
•
•
Fully integrated
Easy to use
Financial Snapshot
Printable
Data entry method
Email to client
Saves time
#3 Annual Review Tool
• Displays existing
data
• Method of data
entry
• Fully integrated
• Printable
• Highlights changes
• Easy to use
• Saves time
#4 FP Focus
• Executive summary
covering 9 key areas
of financial plan.
• Consistent and
client-friendly
reports
• Flexibility to change
graphs on the fly.
#5 Planning Assistant
Guides you through:
1.
2.
3.
4.
5.
6.
7.
Basic Data
Review Data
Current Situation
Save More
Asset Allocation
Recommendations
Printing the Plan
#6 Planning Strategies
• 20 Strategies covering
common areas
including:
–
–
–
–
–
–
Income Splitting
Retirement Strategies
Tax Planning
RRSP / RRIF
Investment Strategies
Pension / LIRA
#7 Value of Advice
& Return on Advice
•
•
•
•
Measure of performance
Third party validation
Integrates fees into plan
Calculates return needed
outside of the plan
• Positions the financial
plan as an investment
• Best investment clients
can make
#8 Planning Concepts
• Estate Multiplier
• Insured Annuity
• Retirement
Leverage
• RRSP Strategies
• RRSP Leverage
• Income Comparison
• Debt Consolidation
•
•
•
•
•
•
Terminal Return
Tax Freedom Day
Tax Funding Alternatives
Investment Strategies
Investment Leverage
Lost Opportunity Cost
#9 Customization
• Custom Documents • Client Reports
–
–
–
–
–
–
–
Global, all clients
Easy to use
100s of documents
100s of graphs
Branding
Custom formulas
Password protection
– Personalized for
each client
– Fine tuning
– Permanent record
– Email to clients
– Password protection
#10 Software Support
• Toll-Free Tech Support
– 8:00 AM to 8:00 PM (EST)
• www.training.cch.ca
– Live web classroom
– Recordings of live web
sessions
– Interactive tutorials
– Knowledge base
• New Tutorial CD
• New User Reference
Guide
IPC Advisor Discount
Single user license
Software Level
Annual
Subscription
IPC Advisor
Special Price
Basic
$ 290
$ 194
Plus
$ 500
$ 334
Advanced
$ 850
$ 567
Business
$1,250
$ 834
Contact CCH for more information or a free demo
1-800-268-4522 or www.cch.ca
Allocate amongst
seven different
asset categories
Automatically
calculates annual
RRSP contribution
maximums and
RRIF minimums
Tracks both the
year end balance
and deferred taxes
Allocate amongst
seven different
asset categories
Use solve utilities
to determine
deposits and/or
withdrawals
Properly track the
portfolio balance,
ACB, unrealized
capital gains and
the tax deferred
Produce either an
RESP or In-trust
for account for up
to seven children
Automatically
integrates unfunded
expenses with other
lifestyle needs
Creates projections
that track deposits,
balance, expenses
and government
programs (i.e.
CESG)
Show MPPs,
LIRAs, and IPPs
Flexibility to choose
between LIF or
LRIF withdrawals
with automatic
minimum
calculations
Keep track of both
the living and
estate value of the
pension plan
Model both
registered and
prescribed
annuities with
proper cash flow
tracking
Income and asset
value are
integrated into full
financial plan
Use program to
calculate income or
manually enter the
annuity income
Handles both
principal
residences and
recreational
properties
Automatically
calculates
amortization and
integrates
payments into
cash flow
Allows for changes
in value of real
estate and
mortgages in future
years
Show all types of
life insurance
including UL,
group and joint
Import results from
various life
insurance software
projection
programs
Includes a
separate document
for leveraging CSV
Compares the
clients’ goals with
three user definable portfolios
Calculates how
much client needs
to save to attain
retirement goals
Solve utility helps
determine how
long assets can
provide the desired
retirement lifestyle
Use the
questionnaire
provided or
manually set the
risk tolerance
Show different
suggested
allocations for the
non-registered and
registered
accounts
Easily integrate
suggested asset
allocations into the
projections
Shows both
graphically and
numerically the
impact of the
death of a spouse
Clearly illustrates
the need for
additional life
insurance for three
different investment
strategies
Calculates life
insurance needs
every year of the
plan
Show the impact of
second death on
the value of the
clients’ estate
Automatically
calculates the
probate and legal
fees that occur in
estate situations
Displays the
benefits that life
insurance add to
an estate
Model the issues
that arise when a
client becomes
disabled
Performs analysis
of both critical
illness and long
term care needs
Compares the
after-tax income
when disabled to
the lifestyle needs
Model up to 10
different stock
options
Both asset value
and income
generated from
options are
integrated into full
financial plan
Tracks the deferred
tax and displays
the proper tax
issues involved
with owning
options
Enter up to five
commercial
properties along
with their
mortgages
Tracks CCA,
maintenance costs
and rental income
Properties can be
sold in any year
and recapture or
terminal loss is
automatically
calculated
Performs and
documents annual
T1 tax
calculations
Shows income and
tax thresholds on
the same graph
Automatically
calculates the OAS
clawback
Fully integrates all
cash inflows and
outflows on an
annual basis
Optimize tool
automatically
determines how
cash flow excesses
and deficiencies
are handled.
Clearly outlines
disposable income
that is available for
investing
Produces both
year-by-year net
worth projections
and point in time
net worth
statements
Displays any
liabilities and/or
deferred taxes
created from assets
Calculates and
displays the estate
net worth
Shows the value
of planner advice
and proper
financial planning
Shows the
difference in taxes
and net worth when
two scenarios are
compared
Focuses on four
key areas including
income, taxes,
cash flow and net
worth
Indicates the
return required on
the fees for the
plan to get the
same results as
produced by the
advice given
Helps demonstrate
to clients that fees
paid for planning
advice are an
investment
Focuses on taxes,
net worth and
after-tax net worth
Model up to six
companies,
including two
holding
companies and
four operating
companies
Both assets and
cash flows from the
corporations are
integrated with the
personal financial
plan
Calculates the
estate issues
involved in
business planning
Enter the details
of the assets that
make up the
corporation
Make payments to
shareholders in the
form of dividends,
capital gains and
shareholder
bonuses
Tracking of both
RDTOH and CDA
allows the program
to automatically
calculate taxable
and tax-free
dividends
Model corporately
owned term,
whole or UL
insurance policies
Software tracks the
ACB of the policies
and allows for the
paying of insurance
dividends to owners
Automatically
integrates with the
Capital Dividend
Account (CDA)
Model detailed
asset allocation of
all corporate
investment assets
Track corporation
cash flow by using
the investment
deposits and
withdrawals
Pay dividends out
of the investment
account and have
RDTOH and CDA
automatically
calculated
Display the asset
and liabilities
attributed for up to
five corporately
owned real estate
properties
Rental income is
automatically
factored into the
RDTOH
calculations
Tracks CCA and
allows for
disposition of
properties at any
time
Displays the
current net worth
Determines the
retirement income
excess or shortfall
Shows the current
need for life
insurance
Mirrors the paper
version and can be
filled out
electronically
Easy to navigate by
both you and your
clients
Speeds up the data
gathering process
Displays existing
data from FP
Solutions files
Highlights any data
changes that are
made
Speeds up the
review process.
Provides space for
detailed notes
Can be printed
blank for use with
new clients
Captures all of the
detailed data
necessary to create
a plan
Illustrates the
impact of the
concept on the
client’s after-tax
estate
Program
automatically
creates two
scenarios within the
existing client file
Shows difference in
both estate and
equity values
Illustrates the
impact on the
client’s after-tax
income
Program
automatically
creates two
scenarios within the
existing client file
Projects the future
after-tax estate
values of both
scenarios
Illustrates the
advantages of tax
deferred growth
within a life
insurance policy
Compares a regular
investment strategy
to borrowing
against the cash
value of a tax
preferred insurance
contract
Graphically
compares both the
equity and estate
values
Allows the
comparison of
varies strategies
within the RRSP
accounts
Show the
advantages of early
contributions,
maximizing foreign
content, and other
common strategies
Fully integrated
with the rest of the
program
Models the concept
of borrowing to top
off RRSP
contributions
Creates leverage
scenario and
compares it to a
regular deposit
scenario
Integrates with an
existing financial
plan or can be
modeled as a
separate concept
Educates clients
about the different
types of investment
income
Compares after-tax
income of interest,
dividends and
capital gains with
the after-tax income
of existing portfolio
Reinforces the
advantages of a tax
efficient portfolio
Choose amongst all
17 debt areas
available within the
software
Models the impact
of holding high
interest debt
Can be used to
uncover funds for
use in investment
activities
Shows the detailed
tax liability payable
on second death at
life expectancy
Produces a
document clients
are familiar with
and understand
Motivates the client
to engage in proper
tax planning
strategies
Shows the date
each year that a
client stops working
for the CCRA
Shows the impact
of any tax planning
strategies that you
may recommend
Based on the T1
calculations built
into the software
Demonstrates the
impact taxes will
have on the estate
of the clients
Shows four ways of
paying for the
estate tax: using
cash, selling the
assets, borrowing
or using life
insurance
Flexibility to choose
the assets that
need protection and
set life expectancy
Compares
recommended
strategies to current
Allows you to
demonstrate effects
of asset allocation,
deposit timing and
portfolio turnover
Automatically
creates two
scenarios that are
saved within the
client file
Creates documents
that compares
leveraging the
investment portfolio
to making regular
deposits
Automatically
integrates into the
full financial plan
Allows the debt to
be paid back using
blended or interestonly payments
Calculates the lost
growth on taxes
paid from an
investment portfolio
to illustrate the true
cost of income tax
Lost opportunity
can be calculated
on client, spouse
and joint nonregistered accounts
Helps educate
clients on the
benefits of tax
sheltered investing
Three month rolling
calendar list
upcoming sessions
Clicking the
session title
provides a detailed
description
Register for
session through
the calendar
Session list
provides details of
all sessions
available
Clicking the
session title will
provide a
description
Quickly register for
a session using the
button provided
FP Solutions Basic
Single Needs, Concepts and Retirement Planning
•
•
•
•
•
•
•
RRSP / RRIF
Non-registered
Education Savings
Pension Plans
Annuities
Real Estate
Life Insurance
•
•
•
•
•
•
•
Retirement Needs
T1 General Tax
Risk Tolerance
Financial Calculators
Solve Deposit
Solve Withdrawal
Mutual Fund Import
FP Solutions Plus
Goal Based Personal Financial Planning
• Retirement Capital Needs (Investing)
• Survivor Capital Needs (Life Insurance)
• Estate Capital Needs (Tax and
Liquidity)
• Disability Capital Needs (DI, CI, LTC)
• Employee Stock Options
• Commercial Real Estate
FP Solutions Advanced
Cash Flow Based Personal Financial Planning
•
•
•
•
•
•
Detailed Income Projections
Detailed Cash Flow Projections
Detailed Net Worth Projections
Change in Financial Position
Planning Assistant
Planning Strategies
FP Solutions Business
Integrated Corporate Financial Planning
• Estate Planning (Freezes / Family
Trusts)
• Holding & Operating Companies
• Corporate Owned…
– Life Insurance
– Investments
– Real Estate
• CDA & RDTOH Calculations